Assume that at the current market price, a perfectly competitive firm's profit-maximizing level of output yields total revenues that are just equal to total costs. which of the following statements applies to this firm? a. the firm should shut down right now. b. the firm should continue to operate in the short run to minimize losses, but shut down if things don't improve over the long run. c. the firm is earning zero economic profit and should continue to operate. d. the firm should increase its explicit costs to reduce its tax burden.

If delta airlines were to significantly change its fare structure and flight schedule to enhance its competitive position in response to aggressive price cutting by southwest airlines, this would be an example ofanswers: explicit collusion.tacit collusion.competitive dynamics.a harvest strategy.

While cell phones with holographic keyboards are currently in the introduction stage of the industry life cycle, tablet computers are in the growth stage. in the context of this scenario, which of the following statements is true? a. the industry for cell phones with holographic keyboards will face greater competition than the tablet industry. b. while the industry for cell phones with holographic keyboards will focus more on product innovation, the tablet industry will focus more on process innovation. c. while the industry for cell phones with holographic keyboards can reap the benefits of economies of scale, the tablet industry will experience no such benefits. d. the industry for cell phones with holographic keyboards will face price competition, whereas, in the tablet industry, the mode of competition will be non-price.

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